Notable Price Action: It Seems Parsley Energy Inc Will Go Up. Just Reaches All Time High

November 30, 2016November 30, 2016Richard Conner

The stock of Parsley Energy Inc (NYSE:PE) reached all time high today, Nov, 30 and still has $39.94 target or 4.00% above today’s $38.40 share price. This indicates more upside for the $7.71B company. This technical setup was reported by Barchart.com. If the $39.94 PT is reached, the company will be worth $308.40M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 3.08M shares traded hands or 1.99% up from the average. Parsley Energy Inc (NYSE:PE) has risen 34.26% since April 27, 2016 and is uptrending. It has outperformed by 29.03% the S&P500.

Analysts await Parsley Energy Inc (NYSE:PE) to report earnings on February, 22. They expect $0.07 EPS, up 450.00% or $0.09 from last year’s $-0.02 per share. PE’s profit will be $14.05 million for 137.14 P/E if the $0.07 EPS becomes a reality. After $0.03 actual EPS reported by Parsley Energy Inc for the previous quarter, Wall Street now forecasts 133.33% EPS growth.

Parsley Energy Inc (NYSE:PE) Ratings Coverage

Out of 28 analysts covering Parsley Energy Inc (NYSE:PE), 23 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 82% are positive. Parsley Energy Inc has been the topic of 58 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Imperial Capital initiated Parsley Energy Inc (NYSE:PE) rating on Tuesday, July 26. Imperial Capital has “Outperform” rating and $34 price target. The stock of Parsley Energy Inc (NYSE:PE) has “Overweight” rating given on Monday, August 22 by KeyBanc Capital Markets. Howard Weil upgraded Parsley Energy Inc (NYSE:PE) rating on Friday, August 14. Howard Weil has “Sector Outperform” rating and $23 price target. On Wednesday, December 9 the stock rating was initiated by JP Morgan with “Overweight”. On Monday, September 21 the stock rating was maintained by Macquarie Research with “Outperform”. The stock of Parsley Energy Inc (NYSE:PE) has “Neutral” rating given on Tuesday, March 29 by Goldman Sachs. On Tuesday, December 15 the stock rating was initiated by UBS with “Buy”. The rating was initiated by KeyBanc Capital Markets on Friday, August 14 with “Overweight”. The rating was initiated by Evercore on Friday, October 2 with “Buy”. On Friday, August 21 the stock rating was maintained by Credit Suisse with “Outperform”.

According to Zacks Investment Research, “Parsley Energy, Inc. is an independent oil and natural gas company. It is focused on the acquisition, development, and exploitation of unconventional oil and natural gas reserves in the Permian Basin. Parsley Energy, Inc. is headquartered in Midland, Texas.”

Insitutional Activity: The institutional sentiment decreased to 1.38 in Q2 2016. Its down 0.68, from 2.06 in 2016Q1. The ratio is negative, as 26 funds sold all Parsley Energy Inc shares owned while 54 reduced positions. 76 funds bought stakes while 89 increased positions. They now own 148.38 million shares or 18.17% more from 125.56 million shares in 2016Q1.
Wfg Limited Partnership has 839 shares for 0.01% of their US portfolio. Ameriprise Fincl has invested 0.02% of its portfolio in Parsley Energy Inc (NYSE:PE). Redwood Investments Limited Liability Corporation has 1.6% invested in the company for 645,059 shares. Raymond James Assocs has invested 0.03% of its portfolio in Parsley Energy Inc (NYSE:PE). Ardsley Advisory Prtn last reported 1.62% of its portfolio in the stock. 1492 Cap Mgmt Limited holds 0.43% of its portfolio in Parsley Energy Inc (NYSE:PE) for 17,874 shares. The Illinois-based Envestnet Asset Mngmt has invested 0% in Parsley Energy Inc (NYSE:PE). Price T Rowe Associates Md has invested 0.04% of its portfolio in Parsley Energy Inc (NYSE:PE). Thrivent Financial For Lutherans has 2.26M shares for 0.29% of their US portfolio. Us Bankshares De holds 0.01% of its portfolio in Parsley Energy Inc (NYSE:PE) for 72,386 shares. Pub Employees Retirement Association Of Colorado has 0% invested in the company for 4,849 shares. Swiss Retail Bank accumulated 232,003 shares or 0.01% of the stock. Renaissance Tech Ltd Liability holds 764,700 shares or 0.04% of its portfolio. The Michigan-based Comerica State Bank has invested 0% in Parsley Energy Inc (NYSE:PE). California Employees Retirement System has 35,200 shares for 0% of their US portfolio.

Insider Transactions: Since June 2, 2016, the stock had 1 buying transaction, and 21 insider sales for $62.09 million net activity. The insider ALAMEDDINE A R bought 8,000 shares worth $278,000. Another trade for 25,000 shares valued at $821,750 was sold by Hinson Mike. Sheffield Bryan sold $35.37M worth of stock. Gallagher Matthew also sold $1.52 million worth of Parsley Energy Inc (NYSE:PE) shares. $699,533 worth of shares were sold by Dalton Ryan on Thursday, November 17. Roberts Colin had sold 25,000 shares worth $819,250 on Monday, August 8. 6,250 shares were sold by Smith David Henry, worth $206,188.

Another recent and important Parsley Energy Inc (NYSE:PE) news was published by Prnewswire.com which published an article titled: “Parsley Energy Announces Third Quarter 2016 Financial And Operating Results …” on November 02, 2016.

PE Company Profile

Parsley Energy, Inc., incorporated on December 11, 2013, is an independent oil and natural gas company. The Firm is focused on the acquisition, development and exploitation of unconventional oil and natural gas reserves in the Permian Basin. The Permian Basin is located in West Texas and Southeastern New Mexico and comprises over three primary sub-areas: the Midland Basin, the Central Basin Platform and the Delaware Basin. The Company’s properties are primarily located in the Midland and Delaware Basins and its activities have been focused on the vertical development of the Spraberry, Wolfberry and Wolftoka Trends of the Midland Basin. The Company’s vertical wells in the Permian Basin are drilled into stacked pay zones that include the Spraberry, Wolfcamp, Upper Pennsylvanian (Cline), Strawn, Atoka and Mississippian formations.